With all the frenzy in the big market indices, you’d think that “everyone” is “over-risked.”But behind the curtain, the defensive staples (XLP) and boring-old-high-dividend-paying stocks (DVY, shown earlier) have gained traction.This is TWENTY DAYS % performance.Staples (grey dashed) and dividend payers (lime dashed) are right up there, and utilities are in dashed brown…. albeit all are a bit behind discretionary!!! (pink, solid) and smalls (cyan, solid).btw: look at the trajectory of financials (XLF red solid) in the last coupla days.

Algo triggered buying panic. Is this the exhaustion with distribution to the 401 K crowd tomorrow? Wow, at R4 pivot again.My speculation-Can't be mutual fund month end window dressing because they don't do insurance. So it has to be managed money with hedge fund flexibility. Holding their nose and buying because they need to show those positions on the month end statement but matching with insurance to show they aren't reclass.

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